Is Life Insurance Taxable?
Generally speaking, life insurance death benefits are not taxable. But there are considerations to be made regarding associated tax implications like estate taxes, cash value withdrawals, and premium deductions. So, let’s explore the nuances of life insurance-related taxes and the various other aspects that can impact the tax responsibilities of a beneficiary. Death Benefit and […]
Understanding Face Value vs. Cash Value in Life Insurance
If you’ve been hunting for the perfect life insurance policy, you’ve probably come across the terms “cash value” and “face value” more than once. While they sound similar, they have very different definitions. Choosing a life insurance policy is a decision that will affect you and your family for decades to come, so you want […]
Is Life Insurance for Kids Worth It?
More and more people these days are taking life insurance policies out on their children, even just two weeks after they’re born. This concept challenges the typical reasons someone takes out a life insurance policy. After all, life insurance is generally thought of as a way to protect your dependents should your income disappear and […]
Should You Get Life Insurance Over the Age of 60?
Life insurance is often associated with securing financial stability for loved ones after a policyholder’s passing. But as individuals reach their 60s and 70s, the question of whether to invest in life insurance becomes more nuanced. It’s never too late to consider life insurance. At any age, it’s a way to contribute to your legacy […]
Should You Get AD&D Insurance?
It’s never fun to talk about, but life is full of uncertainties. And while we can’t predict the future, we can certainly take steps to protect ourselves and our loved ones from the fallout of unexpected accidents. A great way to implement this protection is by considering insurance options like Accidental Death and Dismemberment (AD&D) […]
What’s The Best Life Insurance for Seniors?
Life insurance is a financial tool that provides peace of mind and financial security to your loved ones in the event of your passing. Although life insurance is often associated with younger individuals and families seeking financial security in the event of an unexpected passing, it’s just as important for seniors to consider their life […]
What is Fully Underwritten Life Insurance?
Life insurance is a crucial financial planning tool that provides protection and financial security for your loved ones in the event of your passing. There are various types of life insurance policies available, but one of the most comprehensive and traditional options is fully underwritten life insurance. In this article, we will explore what fully […]
I’m Over 50… What Type of Life Insurance Should I Get?
It’s never too late to consider life insurance. At any age, it’s a way to contribute to your legacy and shield your loved ones from the financial consequences of the unexpected. But if you’re over 50 years old, the picture is quite different from the experience of younger persons shopping for life insurance. Here’s what […]
Collateral Assignment of Life Insurance: Everything You Need to Know
Life insurance isn’t just about peace of mind for the future; it can also serve as a lifesaver when you’re looking for ways to secure a loan. This clever maneuver is known as a collateral assignment of life insurance. It’s a deal between you and your lender where your life insurance policy, specifically the cash […]
The Importance of Life Insurance for Young Adults
We often think of life insurance as something for those who already have a mortgage, family, and probably some years under their belt. However, life insurance is not just a tool for protecting loved ones after you’re gone; it can also be a smart financial strategy for young adults depending on their circumstances. Let’s dive […]
